Nifty 50 Outlook, Nov. 26 -- Brokerage house PL Capital has turned bullish on Indian equities and now expects the Nifty 50 to hit 29,000 over the next 12 months (from (28,781 earlier), supported by improving corporate earnings, resilient domestic demand and stronger macro stability.

In its latest India Strategy report, the brokerage said the market may be entering a long-awaited upgrade cycle after several quarters of earnings downgrades. It highlighted that Nifty earnings revisions for FY26, FY27 and FY28 have all turned positive for the first time in five quarters.

The upbeat outlook came on a day when Indian markets saw firm gains. On Wednesday, November 26, benchmark indices surged sharply, supported by strong global cues. The Sense...